if there’s a consistent track record of being able to sell an nft for more than one paid for it, people are more likely to buy it just so they can sell it later for more than it was purchased for. It’s not that much different than any other kind of authenticated memorabilia; you’re not paying for the memorabilia, you’re paying to track the authentication in a repeatable consistent way.
You know the banana with tape over it art piece, right? There is nothing special about the tape or the banana at all, the special part is the authenticated set of instructions that allow the ‘owner’ of the certificate to present the work according to specifications, and since the maintainer of the records proving authenticity will only recognize one person at a time that set of instructions becomes non-fungible.
Are you telling me people are STILL paying money for these in 2025? Cause it does say 7. something ETH right there.
if there’s a consistent track record of being able to sell an nft for more than one paid for it, people are more likely to buy it just so they can sell it later for more than it was purchased for. It’s not that much different than any other kind of authenticated memorabilia; you’re not paying for the memorabilia, you’re paying to track the authentication in a repeatable consistent way.
You know the banana with tape over it art piece, right? There is nothing special about the tape or the banana at all, the special part is the authenticated set of instructions that allow the ‘owner’ of the certificate to present the work according to specifications, and since the maintainer of the records proving authenticity will only recognize one person at a time that set of instructions becomes non-fungible.